BASF transferred its global leather chemicals business to Stahl Group; BASF now holds 16% minority stake in Stahl Group

LUDWIGSHAFEN, 05-Oct-2017 — /EuropaWire/ — Following the approval of all relevant authorities, BASF has closed the previously announced transfer of its global leather chemicals business to the Stahl Group, with Stahl taking over the activities as of September 30, 2017. The company is a leader in process chemicals for leather products, performance coatings and polymers. BASF will continue to manufacture and supply leather chemical products to Stahl under mid- to long-term supply agreements.
The transaction includes the leather chemicals production site in L’Hospitalet, Spain. Around 210 positions globally have transferred to the Stahl Group. BASF now holds a 16% minority stake in the Stahl Group.
About BASF
At BASF, we create chemistry for a sustainable future. We combine economic success with environmental protection and social responsibility. The approximately 114,000 employees in the BASF Group work on contributing to the success of our customers in nearly all sectors and almost every country in the world. Our portfolio is organized into five segments: Chemicals, Performance Products, Functional Materials & Solutions, Agricultural Solutions and Oil & Gas. BASF generated sales of about €58 billion in 2016. BASF shares are traded on the stock exchanges in Frankfurt (BAS), London (BFA) and Zurich (BAS). Further information at www.basf.com.
SOURCE: BASF
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